Holiday Island Holdings, Inc. Shifts Its Primary Focus to Its Metcalf Wells
Holiday Island Holdings, Inc. (OTC: HIHI), soon to be rebranded as EP3Oil, Inc., has announced a shift in its primary focus to its two Metcalf oil wells. This decision follows an unexpected pause in production at the Windy Point well. The Metcalf wells, authentic Secondary Oil Recovery reservoirs, have been reactivated after 40 years of dormancy and are expected to be operational as early as next week.
Historically, each Metcalf well produced hundreds of barrels of oil per day. The company has revised its target to up to a multiple of its original daily oil/revenue production within two years. EP3 is also in negotiations to acquire additional oil production assets in Texas while expanding existing operations.
Holiday Island Holdings, Inc. (OTC: HIHI), che presto sarà rinominata EP3Oil, Inc., ha annunciato un cambiamento nel suo obiettivo principale verso i due pozzi petroliferi Metcalf. Questa decisione segue una pausa inaspettata nella produzione presso il pozzo Windy Point. I pozzi Metcalf, autentici serbatoi di recupero secondario di petrolio, sono stati riattivati dopo 40 anni di inattività e si prevede che siano operativi già dalla prossima settimana.
Storicamente, ogni pozzo Metcalf ha prodotto centinaia di barili di petrolio al giorno. L'azienda ha rivisto il suo obiettivo a un multiplo della sua produzione originale di petrolio/entrate giornaliere entro due anni. EP3 è anche in trattative per acquisire ulteriori beni di produzione di petrolio in Texas, mentre espande le operazioni esistenti.
Holiday Island Holdings, Inc. (OTC: HIHI), que pronto será renombrada como EP3Oil, Inc., ha anunciado un cambio en su enfoque principal hacia sus dos pozos petroleros Metcalf. Esta decisión sigue a una pausa inesperada en la producción en el pozo Windy Point. Los pozos Metcalf, auténticos reservorios de recuperación secundaria de petróleo, han sido reactivados después de 40 años de inactividad y se espera que estén operativos tan pronto como la próxima semana.
Históricamente, cada pozo Metcalf producía cientos de barriles de petróleo por día. La empresa ha revisado su objetivo para alcanzar hasta múltiples de su producción original diaria de petróleo/ingresos en un plazo de dos años. EP3 también está negociando para adquirir activos adicionales de producción de petróleo en Texas mientras expande sus operaciones existentes.
홀리데이 아일랜드 홀딩스, Inc. (OTC: HIHI)는 곧 EP3Oil, Inc.로 브랜드를 변경할 예정이며, 두 개의 메트칼프 유전으로 주요 초점을 전환한다고 발표했습니다. 이 결정은 윈디 포인트 유전에서의 생산이 예상치 않게 중단된 후 내려졌습니다. 메트칼프 유전은 진정한 2차유 회수 저장소로, 40년 간의 휴면 상태에서 재활성화되었습니다며 다음 주에는 운영이 시작될 것으로 예상됩니다.
역사적으로 각 메트칼프 유전은 하루에 수백 배럴의 유油를 생산했습니다. 이 회사는 2년 이내에 원래의 일일 유유/수익 생산의 몇 배에 해당하는 목표를 수정했습니다. EP3는 또한 텍사스에서 추가 석유 생산 자산을 인수하기 위한 협상 중이며 기존 운영을 확장하고 있습니다.
Holiday Island Holdings, Inc. (OTC: HIHI), qui sera bientôt rebaptisée EP3Oil, Inc., a annoncé un changement de son objectif principal vers ses deux puits de pétrole Metcalf. Cette décision fait suite à une pause inattendue dans la production au puits Windy Point. Les puits Metcalf, de véritables réservoirs de récupération secondaire de pétrole, ont été réactivés après 40 ans de dormance et devraient être opérationnels dès la semaine prochaine.
Historiquement, chaque puits Metcalf produisait des centaines de barils de pétrole par jour. L'entreprise a révisé son objectif pour atteindre jusqu'à un multiple de sa production quotidienne originale de pétrole/revenus dans les deux ans. EP3 est également en négociations pour acquérir des actifs de production de pétrole supplémentaires au Texas tout en étendant ses opérations existantes.
Holiday Island Holdings, Inc. (OTC: HIHI), das bald in EP3Oil, Inc. umbenannt wird, hat eine Änderung seines primären Fokus auf die beiden Metcalf-Ölquellen angekündigt. Diese Entscheidung folgt auf eine unerwartete Produktionspause am Windy Point-Ölbrunnen. Die Metcalf-Quellen, echte Sekundäröl-Auffangbecken, wurden nach 40 Jahren im Ruhezustand reaktiviert und sollen voraussichtlich nächste Woche in Betrieb genommen werden.
Historisch gesehen produzierte jeder Metcalf-Brunnen Hunderte von Barrel Öl pro Tag. Das Unternehmen hat sein Ziel auf ein Vielfaches seiner ursprünglichen täglichen Öl-/Umsatzproduktion in zwei Jahren überarbeitet. EP3 führt auch Verhandlungen zur Übernahme zusätzlicher Ölproduktionsressourcen in Texas, während es bestehende Operationen erweitert.
- Reactivation of two Metcalf oil wells with historical production of hundreds of barrels per day
- Revised target for increased daily oil/revenue production within two years
- Negotiations underway to acquire additional oil production assets in Texas
- Unexpected pause in production at the Windy Point well
- Shift in focus due to challenges in tapping oil reserves at Windy Point
PLANT CITY, Fla., Sept. 20, 2024 (GLOBE NEWSWIRE) -- Holiday Island Holdings, Inc. (OTC: HIHI), soon to be rebranded as EP3Oil, Inc., announced today that it is shifting its primary focus immediately to its two (2) oil wells, known as “Metcalf”. This follows an unexpected pause as announced previously this year about the Company’s planned continuous oil and revenue production of its Windy Point well. This production pause is hoped and expected to be temporary while attempting to adjust its operations to tap the illusive oil reserves indicated to exist by the engineering reports.
This transition includes the Company’s committed and future funding and all other production related resources employed to provide ongoing petroleum and revenue generation. The Metcalf wells, which are authentic Secondary Oil Recovery reservoirs according to the geological findings, have been reactivated after a 40-year dormancy. Historically, each well produced hundreds of barrels of oil per day before being decommissioned.
The reactivation of the Metcalf wells marks an anticipated robust commencement of oil and revenue production for EP3. Metcalf is anticipated to be operational as early as next week.
Glenn Klinker, CEO of Holiday Island Holdings, Inc., remarked, “This is an exciting milestone, and I am delighted to announce on behalf of the Company, that our Secondary Oil Recovery initiative was launched with an initial target of generating approximately 200 barrels per day within the first year. With our Metcalf development, we have revised our target of up to a multiple of our original daily oil/revenue production within two years.”
In addition, EP3 is actively engaged in negotiations to acquire other oil production assets also located in Texas, while expanding its existing operations.
The Company will keep both its shareholders and public completely informed of the entire process as the details continue to develop. Please watch for press releases about the Company’s progress. For additional information, please visit the Company’s website at www.EP3OIL.COM.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
Contact:
Glenn Klinker - CEO & Chairman
Phone: (702) 480-3215
Email: GLENN@EP3OILcom
Website: www.EP3OILcom
FAQ
What is Holiday Island Holdings' (HIHI) new primary focus?
When are the Metcalf wells expected to be operational for HIHI?
What is HIHI's revised production target for the Metcalf wells?
Why did Holiday Island Holdings (HIHI) pause production at the Windy Point well?
